E-Business
Inlaks to Launch “thehatch” Innovation Lab with a Hackathon as Entry Opens
In a bid to bring innovative solutions to the Fintech industry and pave the way for young technology entrepreneurs, leading system integrator in Sub-Saharan Africa, Inlaks is set to birth an innovation lab called thehatch. The launch of thehatch supports the vision of Inlaks to expand into a new phase termed “Inlaks 2.0”.
The innovation lab is set to build, scale and provide a nurturing environment for Fintech Start-ups by ensuring a level playing field for domestic technological ideas.
This laudable establishment will guarantee an easy penetration into the Fintech market with ample resources, training, finances and collaborative spheres to provide best in class Fintech solutions.
The launch of thehatch innovative lab will begin with a Hackathon challenge themed, “Shaping the future of Insurance”, geared towards the development of technologically enabled solutions that solve major problems in the insurance sector.
The event is expected to gather 100 participants consisting of 20 teams of innovators to develop business and technical innovative solutions for the Insurance industry.
Interested participants can register by logging onto the portal on https://thehackathon.net/ and follow thehatch social media pages for more information. The portal will be open for applications from Monday, 10th June and will close by Wednesday, 3rd July for team selection.
Femi Adeoti, Managing Director, Africa Operations, Inlaks, expatiated on the event noting that “Most tech-startups do not have the experience to reach the customers that would buy into their solutions.
“It is therefore our goal to hand-hold these startups and take them to greater heights while interfacing with some of our global clients and partners, and thereby take advantage of the opportunities that are possible.”
To participate in the hackathon and qualify for amazing prizes, log on to the portal (https://thehackathon.net/ ) and follow on: Instagram – @thehatchilab Facebook- @thehatchilab Twitter – @thehatchilab
E-Business
US Supreme Court Upholds Law Banning TikTok
The United States Supreme Court has upheld a law seeking to ban TikTok in the United States.
The court ruled that the law does not infringe upon free speech rights, citing the US government’s legitimate national security concerns about the Chinese ownership of the app.
Last week, the Supreme Court listened to the arguments from ByteDance, TikTok’s parent company, claiming the law violated free speech.
“There is no doubt that TikTok provides a unique platform for expression, engagement, and community to over 170 million Americans,” the justices stated.
With this decision, the ban set for Sunday remains in place, despite calls from lawmakers and officials across the political spectrum for a delay.
Last year, Congress passed a law requiring ByteDance to sell TikTok or shut it down in the US by January 19, reflecting widespread concerns in Washington that the app could be exploited by China for espionage or propaganda.
On Friday, White House officials informed the media that the ban would not be enforced, leaving the final decision to President-elect Donald Trump, who assumes office the next day.
In December 2024, TikTok asked the US Supreme Court to temporarily block a law that would force its Chinese owner to sell the popular video-sharing platform or shut it down by January 19.
The appeal came the same day TikTok, Shou Zi Chew, CEO, met with US President-elect Donald Trump.
E-Business
FG Says NINs will Facilitate Cash Transfers to 18.1m People
Federal government has plans to expand the national social register to 18.1 million names and to reach at least 70 million poor households across the country by the end of this year, according to Prof Nentawe Goshwe Yilwatda, minister, Humanitarian Affairs, Disaster Management and Social Development (FMHADMSD).
Federal government has been distributing cash assistance to poor citizens through a program that requires verification using the National Identification Number (NIN).
The rate of poverty in the country is alarming, the minister said in an interview with Arise News, reason why the federal government plans to extend the humanitarian outreach program to target more homes. Each household receives the sum of N75,000 ($45).
Giving update on the payments, the minister said the first tranche of the conditional cash transfers were paid to five million households between October and December 2024, while the second and third tranches were paid to 2.8 million households.
“The president has directed, based on CBN’s new regulations, that before any payment is made to an individual or household, they must have a digital identity we can trace. That is the NIN number,” the Yilwatda told Arise News.
The cash transfer enabled by digital ID was launched in 2023, and last year, the federal government said around 25 million Nigerians had already benefitted from the scheme.
E-Business
NIMC Grants NCoS Licence to Register Inmates for NIN
National Identity Management Commission (NIMC) has granted licence for the Nigerian Correctional Service, (NCoS) to register inmates in the over 252 custodial centres across the country for National Identity Numbers, (NIN).
The approval followed the request made by Sylvester Nwakuche, acting controller general of the NCoS, who paid a visit to Engr Abisoye Coker-Odusote, director general/chief executive Officer of NIMC, in her office.
The acting controller-general, said the licence to carry out registration of inmates for NIN would eliminate exclusion of inmates from the country’s National Development plans, ensure their safety and security and facilitate their smooth recapture in times of jailbreaks.
The NCoS boss said the visit to the headquarters of NIMC was in search of collaboration that would enable the Service carry out its mandate seamlessly following on going reforms of the Correctional Service system.
According to Nwakuche, there are lots of socio-economic developments within the Correctional Service systems which had led to a number of inmates obtaining University degrees, Masters Degrees and Doctor of Philosophy (PhD) in various fields.
He said such inmates should not be excluded from the national development plans of the country as they should be integrated into the society to become useful for their families and the country.
Nwakuche said inside the Correctional centres are those awaiting trials whose innocence and otherwise has to be decided by the Courts, but argued that in times of National planning, census and other critical national development issues, they should not be disallowed from participating.
Coker-Odusote who granted the licence said NIN has become critical and essential to the country’s national development plans, stressing that NIMC has gone far with the private sector, especially the banks and the Central Bank of Nigeria (CBN) as all banks accounts are now linked with the NIN.
Coker-Odusote said the Eight points Agenda of President Bola Tinubu are also anchored on the Country’s digital identity or National identity Number, stressing that for instance NIN was tied to students loans to eradicate duplicity and prevent ghost beneficiaries.
Coker-Odusote expressed delight in the partnership with the NCoS, saying that the Commission had already entered into partnership with the Nigeria Immigration Service, NIS and other agencies in order to facilitate the smooth delivery of their constitutional mandates.
She commended Dr Olubunmi Tunji-Ojo, minister of Interior, for his dynamic leadership and role in ensuring the delivery of dividends of democracy to Nigeria through various reforms.
- News2 days ago
SERAP Petitions Trump, Urges Recovery of Stolen Nigerian Assets, Barring Corrupt Officials from US
- News2 days ago
Nigeria’s Electricity Exports Hit $112m amid Persistent Power Outage
- Telecom2 days ago
Subscribers Reject Tariff Hike, Say FG Cannot Speak for Them
- E-Financial2 days ago
Over 562m People Own Cryptocurrency Globally
- Telecom2 days ago
MTNN Raises N42.20Bn through Commercial Paper
- General News2 days ago
NIS Announces Maintenance on Passport Portal
- General News2 days ago
NITDA, NFIU Collaborate on AML/CFT Data Management System Upgrade
- E-Financial2 days ago
SEC Sets January 31 Deadline for CMOs Registration Renewals